OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Position in 3M (NYSE:MMM)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in 3M (NYSE:MMM - Free Report) by 63.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,300 shares of the conglomerate's stock after selling 96,500 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in 3M were worth $7,268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MMM. ORG Partners LLC grew its holdings in shares of 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock worth $41,000 after buying an additional 98 shares in the last quarter. Czech National Bank grew its holdings in shares of 3M by 5.5% during the fourth quarter. Czech National Bank now owns 118,072 shares of the conglomerate's stock worth $15,242,000 after buying an additional 6,163 shares in the last quarter. Aprio Wealth Management LLC grew its holdings in shares of 3M by 19.1% during the fourth quarter. Aprio Wealth Management LLC now owns 3,195 shares of the conglomerate's stock worth $412,000 after buying an additional 513 shares in the last quarter. Matrix Trust Co grew its holdings in shares of 3M by 602.9% during the fourth quarter. Matrix Trust Co now owns 738 shares of the conglomerate's stock worth $95,000 after buying an additional 633 shares in the last quarter. Finally, Clark & Stuart Inc purchased a new stake in shares of 3M during the fourth quarter worth $9,553,000. Hedge funds and other institutional investors own 65.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MMM. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Saturday. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Barclays upped their target price on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Bank of America upped their price objective on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Finally, Royal Bank of Canada upped their price objective on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $149.29.

3M Stock Up 5.5%

NYSE MMM opened at $150.37 on Tuesday. The stock has a market cap of $80.93 billion, a PE ratio of 19.92, a P/E/G ratio of 3.30 and a beta of 1.02. 3M has a fifty-two week low of $96.76 and a fifty-two week high of $156.35. The business has a 50 day moving average price of $141.36 and a two-hundred day moving average price of $138.88. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. As a group, sell-side analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.

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